In which of the following types of accounts are increases recorded by credits?
A) revenues and liabilities
B) drawing and assets
C) liabilities and drawing
D) expenses and liabilities

Question

Quizplus · Accepted Answer

In revenues and liabilities accounts, increases are recorded by credits. This is because revenues increase equity, which is a credit account, and liabilities are also credit accounts. Expenses, assets, and drawings accounts all increase with debits.

In Which of the Following Types of Accounts Are Increases